a single exchange of two currencies at a predetermined rate for future delivery

The rate at which a foreign exchange contract is struck today for settlement at a specified future date. A compilation of the Spot exchange rate plus or minus the forward points.

A foreign exchange deal with a maturity beyond the spot delivery date.

A commitment to buy or sell a currency for delivery on a specified future date or period. The price is quoted as the Spot rate minus or plus the forward points for the chosen period.

Foreign exchange deal which matures on any day past the spot delivery date.

An OTC interest rate derivative that specifies a future interest rate for a forward period. It is cash settled similar to 'STIR futures'